About your Search

20121201
20121231
STATION
CNBC 26
CSPAN 11
CSPAN2 5
KCSM (PBS) 5
FBC 4
KRCB (PBS) 4
KQED (PBS) 2
LINKTV 2
MSNBC 2
MSNBCW 2
WHUT (Howard University Television) 2
CNNW 1
WBAL (NBC) 1
( more )
LANGUAGE
English 71
Search Results 0 to 49 of about 73 (some duplicates have been removed)
-backed candidate to lead it. >> gentlemen, behave. >> japan is facing a new general election. >> more on that in a few minutes. first, these other stories making news. japan has accused china of violating its airspace after a chinese government plane was spotted over a group of disputed islands in the east china sea. japan this past fighter jets and launched an official complaint with -- japan dispatched fighter jets and launched an official complaint. the islands are claimed by both japan and beijing. >> palin's prime minister has been charged with murder. the charges relate to the death -- thailand's prime minister has been charged with primer. the charges relate to the death of a tax dry -- taxi driver. >> the south pacific island nation of samoa has been lashed by a cyclone. the storm and damaged buildings, uprooted trees, and caused flooding. officials have declared a state of emergency. no injuries have been reported. >> an autopsy has confirmed that the prisoners committed suicide after being caught up in a prank phone call -- that a british nurse committed suicide after being
estimates. major manufacturers in japan say business sentiment is getting worse. that's according to the latest quarterly report by the country's central bank. the bank of japan released on friday it's quarterly survey of short-term business confidence. nearly 11,000 companies up were covered byhe poll. e headline index stood at minus 12, down 9 points from the previous survey in september. it also records two consecutive quarters of worsening sentiment. the main factor for the decline is poor exports of auto and other economies due to the european downturn and cooling ties with china. another negative factor is the drop in domestic car sales because state subsidies for buyers of fuel efficient cars expired in september. for the nonmanufacturing sector the sentiment index was down by four points from the previous surv survey. looking aahead the to the next three months, major manufacturers expect a slight improvement as they hope the u.s. and chinese economies recovery. they're concerned that cooling consumer sentiment will persist. japanese shoppers are spends less, and that's go
. they are hoping the bank of japan will take action at its upcoming policy meeting next week. euro yen quoted at 108.22 to 99. japan's nikkei average went above 9700 at one point. a weaker yen and the u.s. fed's policy decision that's what's lifting a wide range of issues here in tokyo. let's take a look at other asian markets open now. we are seeing seoul's kospi up and over in australia the benchmark is trading unchanged at 4,583. we'll see where trading takes us throughout the rest of the day. greece is buying back bonds. it exceeds the 30 billion euro target. greece had been seeking investors willing to accept at 30 to 40% of the bond's face value. the program is designed to reduce the debt burden. analysts estimate greece will be able to shave about 20 billion euro's off its debt. this will clear the way for greece to receive a new infusion ofore th bilon eos in aid from the eu and other principal lenders. the organization of petroleum export and countries held a general meeting in vienna yesterday. representatives of the 12 oil exporters agreed to retain the current production target o
♪ >>> pushing for a recovery. the man set to lead japan starts work on getting the economy back on track. a man who led japan once before is laying the foundations for another shot at leadership. next week shinzo abe is expected to find his way back into the prime minister's office, a place he left five years ago. he's already preparing to tackle japan's economic malaise by bringing back an old post. abe led the liberal democrats to victory sunday in the lower house election. they assume power in a week. abe says he plans to reinstate the council on economic and fiscal policy, suspended by the democrat-led government. he'll appoint a new minister to take charge of the council. abe will appoint former prime minister taro aso as his finance minister and deputy prime minister. abe hopes aso can bring his experience and economic expertise to bear on the dual problem of deflation and the strong yen. abe wants central bankers to do more on their part to prop up the economy. yuko fukushima joins's you now from the business desk. yuko, we've talked a lot about the pressure abe's putting
>>> the rodeo the diet. candidates kick off their official campaigns. people across japan are hearing some familiar sounds through their windows. candidates who want a seat in the lower house of the diet are filing the necessary paper work to launch their campaigns. they have loaded up vans an mounted speakers on them to share their messages with voters. 480 seats are up for grabs in the election later this month. that breaks down to 300 single seats and 180 proportional seats. the democratic party took part in 2009. candidates will outline their view on how to right the japanese economy. they'll outline they're vision for how to supply the country's energy need after the nuclear disaster in fukushima. the official campaign lasts 12 days. voters head to the polls on sunday, december 16th. >>> there's another launch of long rang ballistic miss. >> caller:. there mi missile. north korean officials say the launch will happen between december 10th and 22nd be the rocket will head south. may that he had similar preparations in april. that launch ended in failure. they've given
avoid a recession in q4. >>> and japan's business sentiment sours in the fourth quarter. this reading comes two days before a nationwide vote that suggests it will hand the ldp position a landslide win. >>> we're going to give you all the latest results from the flash december data for the pmi for the eurozone that we're just getting out. the overall, the deposit is a touch stronger for the month of december. the details show the manufacturing weakened slightly and its services strengthened slightly. they are overall still in negative territory. and we're seeing the euro/dollar respond a little bit to the downside. down about 0.01% trying to fight back into flat on the day. 130.75 is the level there. again, the services pmi is at 47.8. compared with the 47 that was expected. it's a five-month high. the manufacturing pmi, 46.1. the manufacturing all told, 46.3. that's a bit under the poll of 46.6. with more on the reaction to these figures, we have rob doddson with us. rob, welcome. it appears ta stronger services may be weaker on the manufacturing relative to expectations, at least, b
in boosting inflation ultimately. the euro/dollar, 1.3221. so for trading in asia, just how japan, china and the rest have been affected by fiscal cliff news, diedra morris is join onning us with plenty more. hi. >> hey, kelly. it was a bit of a rude awaking. a lot of these indexes were on their way to gains and then we had the fiscal cliff setback. we had news that john boehner's plan b failed. this all turned red and this is where we ended. the nikkei 225 coming back from that huge rally that we have seen over the last five weeks shedding 1%. the exporters hurt here because the dollar/yen was lower. it has regained some ground in the last few hours or so. the kospi shedding about 1%. blame politicians in the u.s. and blame heavyweight samsung. this accounts for some 20% of market value on the kospi index. down 4%. that hurt the broader markets. this is, of course, because eu regulators are poised to excuse samsung of breaking competition rules and filing competition patent lawsuits against samsung. greater chinese markets, shanghai more isolated from global happenings and fiscal cliff
1960 onwards, the united states of america recycle 70% of its surpluses to germany and japan. an astonishing number. 70% of the profits in the country were recycled into europe and japan. the marshall plan is a very small part of it. i will not bore you with details. but it was not an act of philanthropy. when they go to washington, it is not a philanthropic act on the pentagon's part to instruct boeing to build. it is pragmatic. the united states federal government -- unless europe is dollarized, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. the 1950's and the 1960's. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why did it end? because the global surplus of recycling mechanism could no longer be sustained. why? because the united states stopped having a surplus by the end of the 1960's. how
. >>> and japan's finance minister is saying other companies have no right to lecture japan on its currency policy instead calling for the u.s. to seek a strong dollar. >>> okay. welcome back to "worldwide exchange" this morning. let's take a quick check on trade as we close out the last full trading week of the year. not even a full week, but just one of the last trading weeks of the year. >> monday seems so far away. >> it's just kind of sticking out there, the 24th and 31st. european markets were closed for boxing day week. got back into trade yesterday. sort of a mixed bag across the board. u.s. markets were weaker and this morning europe is following the u.s. down that path. the ftse just a little bit lower. the xetra dax down by .1%. the cac 40 which was one of the strong performers yesterday giving up some of its gains. the ibex 35 underperforming. >> the penny stock not worth a whole lot so you have to take that into consideration. but yeah, drifting lower on the bond markets. today we have this italian debt auction which would be interesting. we've got rome offering somewhere in 2 to 3 bi
.3 earthquake strikes japan's northeast coast. tsunami warnings have been issued. job growth in the u.s. are expected to have slowed significantly in november as hurricane sandy battered the economy. and euro hits a session low, 0.4% as problems in europe's periphery continue to weigh. a powerful 7.3 magnitude earthquake has struck across japan's northeastern coast. the quake rocked buildings as far as tokyo according to reports. u.s. geological survey said there was no threat in the wider pacific ocean. the yen has been rising to a session high before we got details of that. and right now, you can see dollar-yen at 82.39. 82.17 before that happened. some safe haven in-flows into japanese currency. if there was going to be a wave in terms of tsunami that was going to hit, it would have happened around five, six minutes ago and she had yet to see any specific drop or change in the sea level. so we'll hope that that continues on that particular way. atomic power says no irregularities seen at its nuclear plant. operations are normal after the quake. so we'll keep our eyes on that. and w
in tokyo, as well, to assess what options the bank of japan really has. policy will not be dictated by market opinion. we'll take stock of britain's progress towards deficit reduction, this ahead of the chancellor's autumn statement. senior fellow for international economics. will the numbers live up to the expectations. meanwhile, over in ghi narks the mainland's factories are crank out more goods at the fastest pace in month. >> chinese factories appear to be recovering. the hsbc pmi, a private gauge of manufacturing, and the government's official pmi, both show a steady improvement for the industry in november. the hsbc pmi final reading came in at 50.5, the quickest expansion in over a year. the industry saw a pick up in new orders as well as stronger exports thanks in part to christmas demand. the concern is about the the unevenness of the recovery. the sub indices for employment as well as small and medium sized companies ticked downwards and that suggested to some that the recovery is mainly led by investment in state-owned enterprises. a bigger worry is about the outlook for
the dollar and the euro ir, as well. priced in a lot in terms of monetary policy out of japan. and aussie dollar, 1.0463, yes, we have cut the cash rate in australia to match the record low of 3%. but we see the aussie dollar rise because it's pretty much all priced in. sterling-dollar also getting a benefit. back over 1.61. so that's where we stand in european trade. let's recap the asian trading session for the first time today, when you not the last. >> thank you, ross.not the last. >> thank you, ross. shanghai composite recovered from its four year low as property financials, rebounded. shale gas and geothermal plays also rallied as beijing plans to cut its annual coal consumption target by 2015. the hang seng finished m eed marginally in the green. losses in the services sector capped the up side. in japan, down beat manufacturing data spurred profit taking on exporters, but sharp shares gained on a deal with qualcomm. more on that coming up from tokyo. south korea kospi also lost a quarter of a percent today. heavy weight cost company underperformed as investors fear the possible bi
commodity. it could be exchanged for silk in india and the silk exchanged for swords in japan, and those swords would be sold back in england and the whole thing would start again. so the ex-peasant who is now running the show on a small plot of land handed over to him by the landlord would be an entrepreneur. effectively, he borrowed money from the landlord in order to pay for three things. rent of the land, wages in the form of corn, to the ex- peasants who are now wandering in the countryside knocking on doors because they don't have direct access to land, and some machinery, shears for clipping wool. so land, labor, and capital could be purchased in advance of production, on the basis that the entrepreneur, ex- peasant has to the landlord. -- on the basis of the debt that the entrepreneur, ex-peasant house to the landlord. so debt comes first, then comes distribution of income in the form of a labor contract. it will work for so many hours and i will give you so much corn. then comes production. it was a combination of this reversal of the order from having production followed by a d
to southern europe. >> and then south korea's presidential election, yes, it's not just japan, and what to expect from the winner. >>> let's just plug you into where we are with this global market. more now on the global trading day in europe. 5-4 advances just about outpace decliners on the dow jones stoxx 600. most european stocks were up yesterday. the dax up 13 points. the dax, second highest close of the year, still up 27.5% for the year. right now, the ftse sound, the cac kron, closed at a fresh 52-week high. and the ftse is up 13 points despite falls from italian banks. let's show you where we are as far as the bond yields are concerned. we just check in. italian yields, 4.4% on the year. we'll show you the twos and tens, as well. i'll give you more on how that compares to where we closed yesterday. so the two-year, that's the low where we were yesterday. 10-year spanish yields, 5.581%. two-year yield, 2.35%, kind of where we were yesterday, too. and they're continue to go appreciateslide slightly from yesterday's close. as far as currency markets, 1.2880 was the two-week low on
that a budget deal is closer. in asia, japan's nikkei rising above the 10,000 mark, wow, the first time in more than eight months. still a ways from 50,000. among the catalysts, expectations of more aggressive monetary stimulus from the bank of japan. the boj wraps up a two-day meeting with a policy announcement tomorrow. >>> the world bank in the meantime is raising its 2013 economic growth forecast for china and for developing east asia. the organization says that the region remains resilient despite the lackluster performance of the global economy. the world bank sees china expanding by 8.4% next year. it's expecting that it will be fueled by fiscal stimulus and the faster implementation of large investment projects. today's forecast is higher than an earlier one that was sited in a world bank report in october. 8.4%, not bad both if you can get it. >>> speaking of china, the united states is moving forward with plans to slap steep anti-dumping duties on wind turbine towers that are imported from china at prices that are deemed unfairly low. the news from the commerce department comes as u.s
. >>> and japan's nikkei 225 reaches the 10,000 mark for the first time in eight months. stocks rally after a widening trade deficit softens the yen and heightens expectations for more stimulus. >>> we are expecting to get the latest results from germany's survey any second now. in the meantime, i can can bring you news. for example, on industrial orders and sales in italy, orders flat on the month, down .2 on the month for sales and down nearly 5% on the year. so confirming some of the weakness that we know we've seen previously in the italian economy. meanwhile, another gauge perhaps for the euro as we look to the strength of it lately. that's the current counselor plus which in october was an adjusted 3.9 billion euros, up quite a bit from the 2.5 billion reported for september. now that also comes after -- a day after the european union's report suggesting that in fact the european union would have to run a surplus, given its poor demographics over the next couple of years. now let's get a quick preview of the news. for that we head to patricia, awaiting the results. what do we expect t
on treatment. >> australia has condemned japan's resumption of the zero waling program. -- of their whaling. the case is due to be heard next year in international court. >> of the rest of the world behaved like the japanese, there would not be a whale left. this must stop. we cannot continue to have a situation where everybody knows that it has nothing to do with science and yet japanese fleets travel from one side of the globe to another to engage in this and to break the moratorium year after year. >> the sea shepherd conservation society is on a boat planning to intercept the fleet saying a moratorium should be enforced. >> they should be enforcing this, but the international commission really does not have any teeth. there is no economic or political motivation for them to do so. there's no difference between what the japanese are doing and what elephant poachers are doing in kenya accept that in kenya, they are black, poor, and get shot for what they're doing. australia could send the military and escort them out of the area. there's a lot of trade deals and money at stake. japan is a
on with the japanese elections? the new prime minister told the bank of japan we want more stimulus. guess who's meeting thursday? the bank of japan. japan's exports fall for the sixth straight month. you are going to see the bank of japan on thursday announce new stimulus measures. you're going to see efforts to weaken the yen. it's going to get even weaker. that is the old yen carry trade. that may be where some of this money is coming from to do the odd little trades that seem to be going on. out of bonds, into stocks, selling gold as well. i think that's a real factor here. what caught my eye this morning, there was a survey out saying the hedge funds is the most exposed to the market since 2010. a lot of people mentioned that and said, that is a contrary indicator, high levels of activity in the stock market for hedge funds, often a negative indicator overall. let me mention night capital. they are selling themselves to geico. i took two-to-one ratio. this is a good deal all around. you're going to marry the biggest, fastest traders out there, getco. you're going to marry that with knight
is not doing that well. not to talk about japan. so this has a slowdown effect which reverb rates on the growth of emerging countries. >> and i know when you see what's happening in italy, will this, the political developments in italy that cause more instability and less reform there, are you concerned that will have a further destabilization impact? >> no. i mean, i think it comes at a time where we are starting to see an exit, a crisis exist by europe. whether this will stabilize, i hope not. i mean, i think the italians are reasonably rationale. and they know what monti brought to them in terms of reducing the italian overprice on the market. and that's -- you know, that's big money. so it comes at the moment where, you know, europe was probably start to go exit the crisis. unfortunate, but the euro system i think now is stronger than it was a year ago. >> and we've seen a lot of change in the u.s. election as well as talk about whoever won whether there would be increased trade tension wes china.. we heard from tim cook last week and he was asked what would it take to make more products in
to japan, voters are heading to the poll on sunday. the major indicators suggest a win for the opposition party. the local media says there is still a large pool of undecided japanese voters. kari enjoji has more on this report from tokyo. >> reporter: 12 parties, some less than a month ole are fielding 1,504 candidates. but instead of being slow for choice, voters say i just don't know. polls suggest the prime minister's democratic party is unraveling, hinting that many first-time politicians that swept the party to a victory three years ago could be wiped out. >> it's quite possible that the cpj will sink from neing first or second but possibly to even third parties in japanese politics. >> the dpj's handling of the fukushima disaster and undelivered economic promises have alien ated many voters. if the liberal democratic party wins, shinzo abi could with the newest restoration governor. the emergence of these smaller parties could mean a messy transition period. >> my gut feeling is that possibly no single party will win the single majority in the next election. this is democracy. even
-- recently last week i was in korea and japan doing some business over there to with companies. i did hear over and over again, there's a lot of concern over there about whether or not the folks in washington will be able to get a deal together. because it's unlikely that many of those companies there or here are going to be willing to invest, to hire, to put people to work unless there's some kind of resolution, some kind of clarity looking forward. >> we'll leave it there. good to have you on the program, sir. thanks very much, governor. >> thank you. >> jack markell. >> and this is not a knock on the governor, but did you notice like so many elected officials, they can't bring themselves to publicly say the word, we raised taxes, right? which is what they did and it worked, but we raised revenue. revenue has become the new catch word for taxes. >> right. we are raising stock prices right now. we were down 189. down 107 right now. >> is this decline a preview of what can come next week if we don't see a deal to avoid the cliff? we'll talk about it. >> also, antawn shutz gives us his best
's bring in the director of japan studies at the american enterprise institute. thank you for joining us and i thank you for having me. hello, heather. heather: you have this article that you wrote for the national review online. the very first line of your article says this. save yourself a few precious minutes and ignoring everything that the u.s. government says about north korea. so what is going on? >> welcome the truth is we don't know what is going on. we are pretty clueless about north korea. all we know is that when it's time fore holidays and for us to relax, north korea will do something crazy like launching rockets on july 4 or maybe setting up another nuclear test around new year's. you know, we go through these cycles. we assume that one day we are going to get them back to the negotiating table, we try to do that, and then they turn around and they break their promise. we are right back where we started from. my point is that i think we should really stop thinking about what we can do to handle this situation. rather, we should accept that the north koreans control the tab
to become greece but it is not hyperbole to compare us to japan and wonder if we get stuck in this slow growth quagmire. europe might be even more in danger of that. >> rose: okay. let's stop right there. do you think that we are at risk of getting stuck in the slow growth quagmire that japan got stuck in, the united states economy? >> well, i would say we are in a mild version of it now, and, you know, we need to do improvements and reforms. i don't think spending money is the solution. there are smart ways to spend it for sure, but i don't buy this idea that bigger keynesian stimulus will solve our problems, these fundamental problems with demographics, with slowing innovation, and other things we are experiencing. i think we need more fundamental reform and my colleagues like paul krugman will say, you know, i hear that all the time but i really want to see -- i want to see stimulus now, and i think we have been doing this for a long time, we are doing it at seven percent of gdp at the moment, and i think it is sensible to try to slowly rein it in. >> rose: so what should be the perc
that the united states is going to become greece but it is not hyperbole to compare us to japan and wonder if we get stuck in this slow growth quagmire. europe might be even more in danger of that. >> rose: okay. let's stop right there. do you think that we are at risk of getting stuck in the slow growth quagmire that japan got stuck in, the united states economy? >> well, i would say we are in a mild version of it now, and, you know, we need to do improvements and reforms. i don't think spending money is the solution. there are smart ways to spend it for sure, but i don't buy this idea that bigger keynesian stimulus will solve our problems, these fundamental problems with demographics, with slowing innovation, and other things we are experiencing. i think we need more fundamental reform and my colleagues like paul krugman will say, you know, i hear that all the time but i really want to see -- i want to see stimulus now, and i think we have been doing this for a long time, we are doing it at seven percent of gdp at the moment, and i think it is sensible to try to slowly rein it in. >> rose: so
. martha: how different than what happened with japan in the '80s. seems like they owned every building in new york. >> back in the '80s and very early '90s japan actually overpaid. they bought the pebble beach golf course in california and bought rockefeller center in new york. various other properties and paid huge dollars for them and lot of their shirts. this time around with china is not the case. you can't say they're paying a lot of money for aig's plane leasing business or a123. martha: stuart, thank you. see you coming up on the business channel. bill: here is the question for you. how much american debt does china actually own? as the largest foreign owner of u.s. debt it owns more than a trillion dollars in treasury securities. china's holding of u.s. debt has increased 56% over the course of the obama presidency which comes out to about $400 billion more. it has bought or invested in more than $15 billion in more than 100 u.s. companies going pack to january of 2010. that is influence. martha: new numbers raising fresh concerns here at home about our economy. the u.s. consum
and southern europe. france and germany about going into recession. japan is already in recession. why apply the poison here. you don't put it on taxes on the economy and why put poison in the patient. i don't get it. >> i'm not for tax hikes or anything, but if you kick the can voters are never going to be ready to reform or pay for entitlement reform. don't do entitlement reform. it took two years for reagan to do entitlement reform. sell by date is long past due on these measures to fix fiscal problems. the problem is we're in economic era of falling expectations and that has to stop. >> if we kick the can for six months that gets us to midterm elections? >> yeah, but the flip side of the argument you can pass a lot of bad bills. nancy pelosi, let's pass the healthcare bill so we can see what is in it. the big thing that we need to concentrate on is getting back to 3% growth. this 2% growth, all of our fiscal problems are going to get worse. we only have a prayer of supplying more jobs, bringing down unemployment and braying down the deficit if we have 3% or greater. >> if we do it now, w
for swords in japan, and those swords would be sold back in england and the whole thing would start again. so the ex-peasant who is now running the show on a small plot of land handed over to him by the landlord would be an entrepreneur. effectively, he borrowed money from the landlord in order to pay for things, and pitiful wages in the form of corn, to the ex-peasants who are now wandering in the countryside knocking on doors because they don't have direct access to land. and some machinery -- shears for clipping wool. so land, labor, and capital, could be purchased in advance of production, on the basis that the entrepreneur, ex-peasant has to the landlord. so debt comes first, then comes distribution of income in the form of a labor contract. it will work for so many hours and i will give you so much corn. it was a combination of this reversal of the order from having production followed by a distribution, followed by debt, to having debt first, then distribution, then production. in conjunction with the great improvements in technology that unleashed the powers of capitalism, and capital
of the global economy at that time when the eurozone is still in recession in japan has also slid into recession. the risk is that this negotiation process could be protracted. i think president obama is proposing the concept of a fallback option, which would at least deliver some of the extension of the tax cuts and also unemployment benefits, which is very important. if the unemployment benefits cease after the first of january, that has an immediate impact on expenditure in the u.s. on about 2 million unemployed people. i think he is going to try to put together a skeleton deal to at least bridge the gap while negotiations continue. u.s. secretary of state -- >> u.s. secretary of state hillary clinton has been taken to hospital. she suffered a concussion earlier this month. she is being treated with blood thinning medication and she will be monitored for the next 48 hours. venezuela's ailing president has had a new health setback, suffering complications after surgery. vice president nicolas maduro made an unexpected trip to the capital of cuba, where president chavez is receiving cancer trea
news out of japan. a strong 7.3 earthquake has struck off the country's northeast coast beneath the sea bed. it shook buildings as far as tokyo and warnings were issued for miyagi prefecture. there's no risk for a widespread tsunami. we'll bring you the very latest. >>> elsewhere, all eyes are on cairo this morning as turmoil has once again overtaken egypt's capitol, this time in response to a political explosive power grab by the president, mohammed morsi. right now army tanks surround the presidential palace as thousands of protesters shout topple the regime, the same chant heard during the regime of hosni mubarak. in a tv show morsi said absolute powers he granted himself will expire with a vote on december 15th but that did little to silence his opponents who plan a million man march in cairo's tahrir square. >>> at a university in dublin hillary clinton called for dialogue to ease the unrest in egypt. >> we call on all the stakeholders in egypt to settle their differences through discussion and debate, not through violence. >> clinton also called on egypt's leaders to protect the c
taxes have done in europe and southern europe. france and germany about going into recession. japan is already in recession. why apply the poison here. you don't put it on taxes on the economy and why put poison in the patient. i don't get it. >> i'm not for tax hikes or anything, but if you kick the can voters are never going to be ready to reform or pay for entitlement reform. don't do entitlement reform. it took two years for reagan to do entitlement reform. sell by date is long past due on these measures to fix fiscal problems. the problem is we're in economic era of falling expectations and that has to stop. >> if we kick the can for six months that gets us to midterm elections? >> yeah, but the flip side of the argument you can pass a lot of bad bills. nancy pelosi, let's pass the healthcare bill so we can see what is in it. the big thing that we need to concentrate on is getting back to 3% growth. this 2% growth, all of our fiscal problems are going to get worse. we only have a prayer of supplying more jobs, bringing down unemployment and braying down the deficit if we have 3
is overplayed in what japan will ultimately deliver on. but mum is pretty good. i think you still play for a little yen weakness. i think we'll see a lot of people trying to buy yen back because i don't think we'll get delivery in all these preelection promises. >> do we all think we know what the chancellor is going to say? >> judging by the many pages being given to it in the newspapers, you feel like what else can he say? it's not going to be a day where you'll buy sterling aggressively because most of the news is going to be bad. we're going to have lower growth. potentially missing at least the underlying fiscal targets and rules. so it's not a great day for sterling. i think the bigger impact will be if the rating agencies get twitchy. then i think sterling will be a bit more vulnerable. but i don't think it's necessarily a story for this afternoon. >> we saw manufacturing came in slightly better than expect. so there risk to the upside from the pmi? >> maybe. it doesn't feel like pmis are really getting a grip on the market. we're not in a world where interest rates are going an
and great bust in the stock market, now in the housing market. it happened in ya -- japan where they had a bust both in the stock market and the housing market, and they still haven't recovered fully. and we've got europe, and they've got their own excesses. and the real lesson here is not so much inflation at the moment, but how did we ever let these excesses of housing here, housing in spain, housing elsewhere, in ireland, in this japan earlier -- in japan earlier, remember those days when you used to talk about the property around the imperial palace in tokyo, and a few hundred acres was equal to the value of all the real estate in california. now, that was real -- i don't know if it was true, but each to talk about -- but even to talk about it was a sense of how extremely -- [inaudible] >> do you share the, when you talk to fed officials, do you share -- >> i'm off the record here? >> no, not now. [laughter] no, no, you're fully mic'd. [laughter] when i talk to a fed official up there because happens to be power within the cia, um, they reveal and betray certain kind of frustration w
of japan easing monetary policy again today, announcing an increase of its asset buying and lending program by more than $118 billion. that move was widely expected as part of the reason that you had seen the yen under quite a bit of pressure, yesterday, at least. you'll see right now that in japan, the market there actually closed down by just over 1%, 1.2% almost. the hang seng and the shanghai composite were slightly higher. oil prices this morning, you'll see right now, are down by about 4 cents to $89.94, so you have things to pick up in those prices over the last couple of days. and the ten-year note at this point which yesterday was yielding above 1.8%, dropping down to 77.2%. finally, take a look at the dollar and gold. yen is at 83.99. gold prices this morning with all these movements in the currency markets up by about $1.10. >>> winter storm draco is moving across the united states threatening retailers and holiday travelers. paul, we know that sometimes the storms could be a good thing for some retailers, particularly if you're selling things from home depot or the likes of thos
on that project, the making of a global capitalism and then even as it helps europe and japan revive, the question is, how does is keep reducing? because now you're creating your own competitors. >> at one point in your book to speak but the american empire, actually dramatic appoints. tucker added as imperialism by invitation. you want to talk to the lead of such a mean by that. >> it's actually a phrase that a sweet story and used for 1945. but it is largely not -- it's a matter of saying that the pentagon in the cna have, in fact, not been essential to the role the american state has played in the world as the treasury and the federal reserve have been. and that term empire which was coined for the way in which decapolis class of europe after 1945 facing strongly and much more concerning labour movements , the socialist threat that they posed, and they were concerned about a soviet invasion. turn to the american state to look to the american state to reconstruct a capitalistic. and in that sense it was empire building. when multinational corporations, the conditions by the late 1950's were foun
around the world, china is a huge creditor. we owe them over a trillion, we'll japan over a trillion. governments are holding on to this debt. you know, there is a story. i forget where it was run that mentioned from the peak of the housing double until now they said the average american household net worth was down about 40%. it's actually down a lot more than that when you factor in each share of the debt that has been accumulated in their name by the federal government. so americans are basically already broke. that's why we have to just admit that we are insolvent because the american families cannot repay the money that's been borrowed in their name. so we admit that we are insolvent. greece imposed a hair cut at 50% of the bondholders. we tell people that have one-year treasury bills we can't pay you back in a year. you have to extend the maturity beebee ten years. america has to tell people who are collecting social security right now or who are expecting to collect it they aren't going to get as much money as they were promised. we have to cut the pensions of the retired amid
with breaking news out of japan. a strong 7.3-magnitude earthquake has struck off the country's northeastern coast. that's the same region hit by last year's massive earthquake and tsunami. well, this morning's quake shook buildings as far as tokyo, and there are reports of a three-foot tsunami in the miyagi prefecture. the u.s. geological survey says there's no risk of a widespread tsunami, and so far, there have been no news of injuries or damage. of course, we're going to keep an eye on any aftershocks that occur and we'll bring you the very latest. >>> well, elsewhere, all eyes are on cairo this morning as turmoil has once again overtaken egypt's capital. this time, it's in response to a politically explosive power grab by the democracy's president, mohamed morsi. right now, soldiers are setting up barricades as morsi's opponents plan a million man march in cairo's tahrir square later today. last night, army tanks surrounded the presidential palace as thousands of protesters waved flags and shouted "topple the regime." you may remember, that's the same chant heard during the revolution t
. >> that is china, incorporated. >> the korette su from the '80s from japan, it is a powerhouse and it will be more on the world economic scene as we move forward. >> you know, the job creators, the 2%, they laugh at us over there. >> they don't laugh, they look at us warily, i think is more probably more appropriate. they also are taking steps in their banking system, we should point out. they've bailed out any bank, depositors have never failed to get their money. but they're trying to put in a -- according to "the new york times," at least, a deposit guarantee system as well for the banking system. >> sounds like all systems go there. >> we'll see if this continues next week. meantime, we'll talk apple debuting the iphone 5 in china today. the iphone news isn't preventing apple shares from falling in the market. cutting the price target to $700 from $780. he does maintain a buy rating and said apple needs to expand more geographically. it's not dead, it's not -- but it needs to find ways to innovate its products. we sort of saw this coming. steve had a caution note on apple a few weeks ago which
Search Results 0 to 49 of about 73 (some duplicates have been removed)